Core Viewpoint - The international spot gold price has fallen below $4,000 per ounce, with a daily drop exceeding $100 and a decline of over 3.5% within October, marking a total decrease of over $400 since reaching a historical high [1] Group 1: Market Dynamics - The recent decline in gold prices is attributed to a combination of factors, including the previous excessive rise in prices and the release of short positions [1] - The acceleration of the gold price drop is primarily driven by developments in trade tariffs, particularly the cancellation of additional tariffs between the US and China, as well as preliminary trade agreements with other countries [1] - The Philippines has announced plans to sell gold due to excessive reserves, aiming to realize profits [1] - The largest gold ETF has reduced its holdings by 8 tons, contributing to bearish sentiment in the market [1] Group 2: Future Outlook - Despite the current downturn, there is a belief that the fundamentals supporting gold prices remain intact, potentially igniting a second wave of price increases [2] - The US national debt has surged from $36 trillion to over $38 trillion in just a few months, raising concerns about how this gap will be addressed, which is seen as a key factor supporting gold prices [2] - The ongoing trend of de-dollarization globally is expected to diminish trust in the US dollar, further enhancing gold's role as a safe haven [2] Group 3: Technical Analysis - The gold price has breached the middle line of the Bollinger Bands on the daily chart, indicating a temporary bearish trend, with a critical support level at $3,800 per ounce [4] - Short-term support is observed around the $3,900 range, with MACD indicators suggesting a low-level buying signal [4] - Recommendations for trading strategies include bullish positions at $3,900 with a stop loss of $15, and a conservative approach at $3,850 with a similar stop loss [4]